TQ KEPADA YANG SUDI KLIK2 GAMBAR2 KAT SINI
By - Mar 29, 2011 2:57 AM GMT+0800
Gold prices fell for the third straight session as signs the U.S. economy is improving drove U.S. equities higher, eroding demand for the metal as an alternative investment.
U.S. consumers increased spending more than forecast in February as incomes climbed, government figures showed today, and an index of pending home resales unexpectedly increased. The economy grew at a 3.1 percent annual rate in the fourth quarter, revised up from 2.8 percent estimated last month, data showed last week. On March 24, gold futures rose to a record of $1,448.60 an ounce on turmoil in Japan and the Middle East.
“The U.S. numbers have not been all that awful,” said Afshin Nabavi, a senior vice president at MKS Finance SA, a bullion refiner in Geneva. “The market has had a huge move up, and the higher we go up, the more chance of a bigger correction.”
Gold futures for June delivery fell $6.30, or 0.4 percent, to settle at $1,421.30 at 1:30 p.m. on the Comex in New York.
This quarter, prices are little changed after gaining in the previous nine quarters.
The Dow Jones Industrial Average rose for the fourth straight session, and Treasury two-year yields gained.
“The strong U.S. economic data provided some investors with a good excuse to take profit after gold hit a record,” said Hwang Il Doo, a senior trader at Korea Exchange Bank (004940) Futures Co. in Seoul.
“Bullion can soon resume the rally since there are many uncertainties lingering: the euro zone debt problems and the Middle East unrest, as well as the fallout from the Japanese earthquake.”
Silver futures for May delivery rose 3.9 cents, or 0.1 percent, to $37.088 an ounce. The price headed for the ninth straight quarterly gain.
Palladium futures for June delivery dropped $4.70, or 0.6 percent, to $745.70 an ounce.
Platinum futures for July delivery rose $2.40, or 0.1 percent, to $1,752.10 an ounce.
To contact the reporters on this story: Nicholas Larkin in London at firstname.lastname@example.org; Sungwoo Park in Seoul at email@example.com
source : http://www.bloomberg.com/news/2011-03-28/gold-declines-as-improving-u-s-economy-reduces-demand-investment-appeal.html
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Sofia. The price of gold continued to surge and hit a record height on Thursday, the 24 Chasa daily informs. A troy ounce was traded for USD 1,447 at the London Metal Exchange. On an annual basis, gold price registered a 35% increase.
The current environment in the Arab World, political and financial problems in countries – members of the euro area and the recent devastating earthquake that hit Japan are among the factors that influence the price of gold, according to Valentina Grigorova-Gencheva, Director of Gold and Numismatics at First Investment Bank.
In Bulgaria investment gold, such as golden bars, coins and jewellery, is offered by First Investment Bank, Raiffeisenbank and Piraeus Bank.